Neco Model Questions Vol1 2019 Financial Accounting Question 39

Practice objective / multiple choice question 39 from the 2019 Neco Model Questions Vol1 Financial Accounting examination.

Neco Model Questions Vol1 2019 Financial Accounting Objective / Multiple Choice Easy Difficulty
Question 39 NECO_MODEL_QUESTIONS_VOL1 • 2019 • FINANCIAL_ACCOUNTING • objective

Which fundamental accounting concept requires that transactions be recorded at the time they occur, irrespective of when cash is received or paid?

Answer Options

Correct Answer A. Accrual concept
B. Cash concept
C. Going concern concept
D. Consistency concept
Correct Answer
A
Correct Option:
Accrual concept

About This Question

This is Neco Model Questions Vol1 2019 Financial Accounting Question 39. It is one of the objective questions from the 2019 Neco Model Questions Vol1 Financial Accounting examination.

Difficulty level: Easy .

Master the Exam!

You've seen a preview, but there are thousands more questions plus AI tutor to break down complex solutions.

Unlock Full Access Available for Android & Windows
Chat with Support